Many people dream of running a home business. The attractions include being able to work to your own schedule, no boss to report to, avoiding the stress of the daily commute, and co-workers, being able to choose one's own clients, and have more time to spend with friends and family. That is the theory.
But be warned, running a home business requires a high degree of self-discipline, and a proven ability to take control of your life. Whilst being your own boss does mean you no longer have to contribute to someone else's businessyou must be sure it is really such a good idea, for you. I advise you consider the following factors before committing yourself:
1. Are you sure you have right personality? Are you able to work alone, self-motivated and well organised?
2. This is maybe the most important step- deciding which type of business is most likely to suit your needs and personality. There are many to choose from, from being a dog groomer, or proof-reader, editor or ghost writer, or maybe a Reiki specialist. You would be wise spending a considerable amount of time researching what is available, as either a stand-alone business or a franchise. Choose one that most suits your needs, interests and personality. Remember, your home business will be a major part of your life for years ahead, so important you enjoy it.
3. Decide how you will use the internet and related technologies to grow your business, and learn as much as you can about what is available, and how it works. You will already know how e-mail makes it easy to communicate with customers all over the world, but need to know too how shopping cart software makes it easy to accept payments while you are offline and how groups and forums will help you create a community of people interested in you and your business.
4. Plan, plan, and plan. A business plan is essential, and you will need to outline your goals, your reasons for being in business, your start-up costs and running budget, your assets, your strengths and weaknesses, your competition and your marketing strategy.
5.Nearly there! A strict rule you would be advised to follow if you are going to run a business from home is to operate as if you are in an office. You may be tempted to work only when you feel like it, not bother to get dressed and not hold yourself accountable for spending your time wisely. Remember, this is a business, not a game. You will be much more productive and professional if you follow a routine, and keep regular business hours, and not skive off to go fishing everytime the urge takes you. Having a designated work space, preferably an office where you can close the door, will help you focus on your work.
6. When you first start off you will feel that you need to do everything yourself: Be your own lawyer, designer, marketing guru, accountant and tea boy/lady. But this really is not a productive way to run a business, and you should try and outsource as much as you can afford to - though not the tea-making, naturally. This will enable you to concentrate on doing the things you are good at, and will bring in the most profit. You must always remember that you are the captain of this ship, and your job is to make the business grow.
7. Last word of warning: Make very sure you get your work-life balance right. It is very easy to let your business take over your life, especially at the beginning, and can have a detrimental effect on relations with your family and friends. You do not want to overdo it and burn yourself. If you do that you risk losing customers, and your business too. Make getting the balance right, and your home based business will succeed.
Starting a home business can be a challenge but having the relevant information, a definite plan in place and following basic business rules will help start you off in the right direction. Try and follow the suggestions above, and you should have a long, happy and profitable home business to run, for a long as you want to. Good luck!
But be warned, running a home business requires a high degree of self-discipline, and a proven ability to take control of your life. Whilst being your own boss does mean you no longer have to contribute to someone else's businessyou must be sure it is really such a good idea, for you. I advise you consider the following factors before committing yourself:
1. Are you sure you have right personality? Are you able to work alone, self-motivated and well organised?
2. This is maybe the most important step- deciding which type of business is most likely to suit your needs and personality. There are many to choose from, from being a dog groomer, or proof-reader, editor or ghost writer, or maybe a Reiki specialist. You would be wise spending a considerable amount of time researching what is available, as either a stand-alone business or a franchise. Choose one that most suits your needs, interests and personality. Remember, your home business will be a major part of your life for years ahead, so important you enjoy it.
3. Decide how you will use the internet and related technologies to grow your business, and learn as much as you can about what is available, and how it works. You will already know how e-mail makes it easy to communicate with customers all over the world, but need to know too how shopping cart software makes it easy to accept payments while you are offline and how groups and forums will help you create a community of people interested in you and your business.
4. Plan, plan, and plan. A business plan is essential, and you will need to outline your goals, your reasons for being in business, your start-up costs and running budget, your assets, your strengths and weaknesses, your competition and your marketing strategy.
5.Nearly there! A strict rule you would be advised to follow if you are going to run a business from home is to operate as if you are in an office. You may be tempted to work only when you feel like it, not bother to get dressed and not hold yourself accountable for spending your time wisely. Remember, this is a business, not a game. You will be much more productive and professional if you follow a routine, and keep regular business hours, and not skive off to go fishing everytime the urge takes you. Having a designated work space, preferably an office where you can close the door, will help you focus on your work.
6. When you first start off you will feel that you need to do everything yourself: Be your own lawyer, designer, marketing guru, accountant and tea boy/lady. But this really is not a productive way to run a business, and you should try and outsource as much as you can afford to - though not the tea-making, naturally. This will enable you to concentrate on doing the things you are good at, and will bring in the most profit. You must always remember that you are the captain of this ship, and your job is to make the business grow.
7. Last word of warning: Make very sure you get your work-life balance right. It is very easy to let your business take over your life, especially at the beginning, and can have a detrimental effect on relations with your family and friends. You do not want to overdo it and burn yourself. If you do that you risk losing customers, and your business too. Make getting the balance right, and your home based business will succeed.
Starting a home business can be a challenge but having the relevant information, a definite plan in place and following basic business rules will help start you off in the right direction. Try and follow the suggestions above, and you should have a long, happy and profitable home business to run, for a long as you want to. Good luck!
About the Author:
Peter Blake is an Internet entrepreneur with one goal - to help others achieve financial success in their Internet endeavours. FREE How-To Guide To Internet success
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